AJOT Newsroom
| February 02, 2022
| Maritime | Liner Shipping
Key insights:
1 The typical pre-Lunar New Year increase in ex-China ocean rates didn’t materialize this year. Many importers may have opted to hold off until after LNY, hoping that prices will ease after the holiday. Congestion and delays at European and US ports may have also discouraged shippers from rushing out orders that will likely sit for days at sea anyway.
2 A COVID outbreak among Lufthansa Cargo’s staff in Frankfurt slowed operations there through the start of this week. The Freightos Air Index (FAX) showed that air cargo rates from Frankfurt to South East Asia increased more than 20% compared to the week before, to $2.77/kg, while LAX-FRA rates climbed 16% last week.
